Pr.CIT v. India Finance Ltd.

81 Taxmann.com 135High Court2017#25845 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2023.

Judgments citing Pr.CIT v. India Finance Ltd.

NAHAR COLOURS AND COATINHGS PRIVATE LIMITED,UDAIPUR vs. PRINCIPAL COMMISSIONER OFINCOMETAX, UDAIPUR

In the result, appeal of the assessee is allowed

ITA 140/JODH/2023[2018-19]Status: DisposedITAT Jodhpur09 Aug 2023AY 2018-19

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 263Section 801ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH, JODHPUR VIRTUAL HEARING BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM Nahar Colours and Coatings Vs Principal Private Ltd., Commissioner of G-1, 90-93, Udyog Vihar, Income Tax, Suker, Udaipur Udaipur (Appellant) (Respondent) PAN NO. AAACN 6942 K Assessee By Sh. Gautam Chand Baid, CA Revenue By Sh. Lovish Kumar, CIT-DR Date of hearing 14/07/2023 Date of 09/08/2023 Pronouncement O R D E R PER: RATHOD KAMLESH JAYANTBHAI, AM This appeal is filed by assessee and is arising out of the order of the Principal Commissioner of Income Tax, Ud…

DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE 8(1), MUMBAI vs. S. B. SECURITIES PRIVATE LIMITED, MUMBAI

Appeal stands dismissed

ITA 7346/MUM/2017[2009-10]Status: DisposedITAT Mumbai30 Jul 2019AY 2009-10

Bench: Hon’Ble Shri Sandeep Gosain, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri Neelkanth Khandelwal-Ld. ARFor Respondent: Chaudhury Arun Kumar Singh-Ld. DR

Section 143(2)Section 143(3)Section 148

…rdingly, we uphold the order of Ld CIT(A) in both the years under consideration. 5.4 So far as the case laws being relied upon by the revenue is concerned, we find that the decision of Hon’ble High Court of Calcutta rendered in Pr.CIT V/s India Finance Ltd. [81 Taxmann.com 135] deals with validity of jurisdiction u/s 263 and therefore, has no application. The decision of Hon’ble Delhi High Court rendered in CIT V/s Vashishth Chay Vyapar Ltd. [66 Taxmann.com 371] deals with a situation wherein the assessee booked fictitious losses through related entities and the transactions were found to be bogus transactions,…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-8(1), MUMBAI vs. VIPUL D. SHAH, MUMBAI

Appeal stands dismissed

ITA 5688/MUM/2017[2010-11]Status: DisposedITAT Mumbai03 Jul 2019AY 2010-11

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.5688/Mum/2017 (िनधा"रण वष" / Assessment Year:2010-11) Dcit-Central Circle -8(1) Shri Vipul D. Shah Room No.656, 6Th Floor 1303, Imperial Residency बनाम नाम/ नाम नाम Aaykar Bhavan, M.K. Road Gulmohar, Cross Road No.12, Vs. Mumbai-400 020 Jvpd, Near Juhu Circle & Axis Bank Parle (W), Mumbai-400 056. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaups-0598-M (अपीलाथ"/Appellant) (ू"यथ" / Respondent) : & Cross Objection No.350/Mum/2018 Arising Out Of I.T.A. No.5688/Mum/2017 (िनधा"रण वष" / Assessment Year:2010-11) Shri Vipul D. Shah Dcit-Central Circle -8(1) Room No.656, 6Th Floor 1303, Imperial Residency बनाम नाम/ नाम नाम Gulmohar, Cross Road No.12, Aaykar Bhavan, M.K. Road Vs. Jvpd, Near Juhu Circle & Axis Bank Mumbai-400 020 Parle (W), Mumbai-400 056. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaups-0598-M (अपीलाथ"/Appellant) (ू"यथ" / Respondent) :

For Appellant: Dr. K. Shivaram and Rahul Hakani – Ld. ARsFor Respondent: Chaudhary Arun Kumar Singh-Ld. DR

Section 143(2)Section 143(3)Section 148

…nd of Ld. AO, submitted that the assessee failed to establish the genuineness of the transactions and therefore the additions were justified. Reliance has been placed on the decision of Hon’ble High Court of Calcutta rendered in Pr.CIT V/s India Finance Ltd. [81 Taxmann.com 135] & Hon’ble Delhi High Court rendered in CIT V/s Vashishth Chay Vyapar Ltd. [66 Taxmann.com 371]. The Ld. DR also justified the validity of reassessment proceedings in view of the fact that Ld. AO was in receipt of tangible information which, prima-facie, indicated escapement of income. 4.2 The Ld. Sr. Counsel, Dr.K.Shivram, controverting t…